I knew CSCO had an announcement this am but didn't know it might have something to do with ENER as some of you are saying.
Tuesday , March 09, 2010 16:10ET
Oil prices fell moderately Tuesday on a strengthening dollar. Traders may be anticipating reports showing rising inventories later this week as well. Crude recovered somewhat from initial losses but remained in the red for the session, falling 60 cents to close around $81.25 a barrel. Natural gas followed suit and added to recent weakness, falling slightly to close at $4.51. Energy stocks traded somewhat mixed with falling commodity prices playing a tug-of-war with a broader market which moved slightly to the upside. Large cap oil and gas was generally higher as Exxon Mobile and ConocoPhillips moved into positive territory. Chevron lagged its peers somewhat and fell below the flat line. Exploration and production firms had a good day with Devon, Southwestern, and Chesapeake trading comfortably to the upside. Oil equipment and services were mostly lower with Schlumberger, Transocean, and Baker Hughes falling into negative territory. Solar firms got some rough treatment from JP Morgan with First Solar, Evergreen and Energy Conversion Devices all getting downgrades.
PHLX Oil Service: -0.60%
Tuesday , March 09, 2010 08:03ET
Issuer: Energy Conversion Devices Inc (NasdaqNM: ENER)
Analyst Firm: JP Morgan
Ratings Action: DOWNGRADE
Current Rating: Underweight (from Neutral)
What a joke! We all know how this will play out - JPM and it's clients are so short this stock that they NEED to cover - ASAP.
HUGE VOLUME ON THE OPEN WILL BE THESE A-HOLES COVERING ...ENER will be a steady rise to $20 over the next year.
jpm has a 15 price target on ener ..all they did was lower it..the timing is suspicious though considering the big surge yesterday afternoon..I would buy on any dip today as this looks like a game for someone to try and get in a bit lower who missed out yesterday..Ener used to surge everytime it went over 10 like 50 cents and yeterday it did the same over 8 so maybe 8 is just the new 10... but maybe some news or a good rumor worht holding not much downside on this one..
I currently don't hold this stock but have been watching it. I have to wonder if it's shorted so heavily as people will just think it's going down or is there a big interest in keeping it pinned down??? As in maybe the Chinese are shorting the hell out of it??
ENER is shorted heavily. regrettably, short data is not
readily available, except for 2 week reports .
check this link:
put in ENER and see the pattern .. it has been heavily
shorted for over 6 months , the ratio swings very wide,
but when you see a short ratio go from 12 days to
4 days and the stock price goes DOWN .. that's a BIG RED
FLAG .. such short covering should have taken the
price to 25 !!!!!
ENER has virtually no business .. yes, they do have products,but burning up cash and not having profits
from operations , this company is on the ropes ....
later ... garce